LHT Holdings LTD Full Year 31dec2016 Results Announcement FINAL

LHT HOLDINGS LIMITED (Company Registration No198003094E)
Address: 27 Sungei Kadut Street 1 Singapore 729335 Tel: (65) 62697890 Fax: (65) 63674907 Email: enquiry@lht.com.sg URL::www.lht.com.sg
Unaudited Full Year Financial Statements And Dividend Announcement For The
Year Ended 31 December 2016
1(a) An income statement and statement of comprehensive income for the Group together with a
comparative statement for the corresponding period of the immediately preceding financial
year.
Consolidated Income Statement

Notes Group
31/12/2016 31/12/2015 Change (%)
S$'000 S$'000 increase /
(decrease)
Revenue Para 8.01 48,781 51,832 (5.9%)
Cost of sales (35,253) (38,868) (9.3%)
Gross profit Para 8.02 13,528 12,964 4.4%
Other income (i) & Para 8.03 4,275 3,898 9.7%
Distribution expenses Para 8.04 (2,115) (2,242) (5.7%)
Administrative expenses (ii) & Para 8.05 (10,302) (9,794) 5.2%
Other expenses (iii) & Para 8.06 (544) (68) 700.0%
Finance costs (iv) & Para 8.07 (65) (95) (31.6%)
Profit before income tax (v) & Para 8.08 4,777 4,663 2.4%
Income tax expenses (vi) & Para 8.11(5) (784) (838) (6.4%)
Profit after income tax 3,993 3,825 4.4%
Attributable to:
3,993 3,825 4.4%
Owners of the parent
Consolidated Statement of Comprehensive Income
Group Group Change

31/12/2016 31/12/2015 (%)
S$'000 S$' 000
Total profit for the year 3,993 3,825 4.4%
Other comprehensive income:
Items that will be reclassified subsequently to profit or loss:
Exchange differences on translating foreign operations (246) (1,155) (78.7%)
Total comprehensive income for the financial year 3,747 2,670 40.3%
Total comprehensive income attributable to:

Owners of the parent 3,747 2,670
Unaudited Full Year Financial Statements And Dividend Announcement For The Year Ended 31 December 2016 Page 1 of 18
Notes to the consolidated income statement

Notes Note Group
31/12/2016 31/12/2015
S$'000 S$'000
(i) Other Income
Allowance for obsolete stock written back 9 -
Amortisation of deferred grants - -
Fair value gain of investment property Para 8.03 - -
Government grants 560 390
Allowance for doubtful trade receivables written back - 60
Gain on disposal of plant and equipment (a) 131 22
Heat treatment and utilities income 373 407
Interest income 12 11
Rental and services income 2,723 2,393
Foreign exchange gains - 150
Waste collection income 265 264
Other Income 202 201
Total 4,275 3,898
(ii) Administrative expenses

Advertisement expenses / Marketing and promotion (201) (101)
expenses
Depreciation of property, plant and equipment (1,994) (1,756)
Insurance expenses (446) (351)
Legal and professional fee (172) (189)
Property tax (361) (430)
Operating lease expenses (996) (1,070)
Subletting fee (104) (107)
Upkeep and maintenance expenses (296) (232)
Allowance for obsolete stock (9) (82)
(iii) Other expenses

Property, plant and equipment written-off (174) (68)
Allowance for doubtful receivables (97) -
Bad debts written off (2) -
Foreign exchange loss (271) -
Total (544) (68)
(iv) Finance costs

Interest expense in respect of :
- finance leases (25) (36)
- bank loan (40) (59)
Total (65) (95)
(v) Profit before income tax is stated after (charging) / Group Group
crediting 31/12/2016 31/12/2015
S$000 S$000
Non-audit fees paid to auditors (31) (36)
Depreciation of property, plant and equipment cost of (1,705) (1,784)
sales
Directors fees (220) (206)
Employee benefit expenses:
-Post employment benefits (596) (545)
-Salaries wages and other costs (8,830) (8,390)
(vi) Income tax expenses

Based on result for the financial year:-
-Current income tax (1,091) (764)
-Deferred tax 173 (41)
(Under)/over provision in respect of prior years:-
-Current tax 49 (8)
-Deferred tax 85 (25)
Total (784) (838)
There was no investment income during the year.
Note:
(a) The Group had disposed of plant and equipment comprising rental pallets with proceeds as shown below:
31/12/2016 31/12/2015
S$'000 S$'000
Rental Pallets 183 25
Forklift - 1
Excavator - -
Total 183 26
1(b)(i) A statement of financial position (for the issuer and Group), together with a comparative
statement as the end of the immediately preceding financial year.
Statements of Financial Position
Notes Group Company
As at As at As at As at
31/12/2016 31/12/2015 31/12/2016 31/12/2015
S$'000 S$'000 S$000 S$000
Non-Current Assets Para 8.09
Property, plant and equipment 18,754 20,871 9,315 10,460
Investments
-Subsidiary companies - - 12,345 13,951
-Investment property 5,750 5,750 5,750 5,750
24,504 26,621 27,410 30,161
Current Assets Para 8.10
Inventories 6,981 7,447 5,047 5,918
Trade receivables 8,554 9,810 6,613 7,706
Amounts due from subsidiary companies - - 4,471 3,751
Other receivables 731 905 132 159
Fixed deposits 173 171 - -
Cash and bank balances 13,039 9,215 7,108 4,043
29,478 27,548 23,371 21,577
Less:
Current Liabilities Para 8.11
Trade payables and accruals 3,630 4,460 2,373 3,314
Amount due to subsidiary companies - - 2,691 2,300
Other payables 685 792 456 528
Finance lease payables 288 502 22 141
Term loan, secured 907 978 907 978
Provision for income tax 892 593 574 387
6,402 7,325 7,023 7,648
Net Current Assets Para 8.13 23,076 20,223 16,348 13,929
Less:
Non-Current Liabilities Para 8.12
Finance lease payables 186 474 - 22
Term loan, secured 130 996 130 996
Deferred tax liabilities 993 1,253 549 495
1,309 2,723 679 1,513
Net Assets 46,271 44,121 43,079 42,577

Equity Para 1 d(i)
Share capital 24,621 24,621 24,621 24,621
Currency translation reserve (2,289) (2,043) - -
Asset revaluation reserves 1,376 1,376 1,376 1,376
Retained earnings 22,563 20,167 17,082 16,580
46,271 44,121 43,079 42,577
1(b)(ii) Aggregate amount of Groups borrowings and debt securities.
Amount repayable in one year or less, or on demand
As at 31/12/2016 As at 31/12/2015
Secured Unsecured Secured Unsecured
S$000 S$000 S$000 S$000
1,196 - 1,480 -
Amount repayable after one year
As at 31/12/2016 As at 31/12/2015
Secured Unsecured Secured Unsecured
S$000 S$000 S$000 S$000
316 - 1,470 -
Details of any collateral
The borrowings of the Group are secured by charges on motor vehicles, plant and machinery and
legal mortgage of certain properties.
Term loan and hire purchase with a carrying amount of $1.20 million are repayable within one year
and bear the interest at rates ranging from 1.88% to 3.66 % (2015: 1.93% to 3.07%) per annum.
Term loan and hire purchase with a carrying amount of $0.32 million are repayable after one year
and bear the interest at rates ranging from 1.88% to 3.66% (2015: 1.93% to 3.07%) per annum.
The bank overdraft facility granted by a bank to one of the subsidiaries was secured by fixed charge
over the subsidiarys leasehold property.
1(c) A statement of cash flows (for the Group), together with a comparative statement for the
corresponding period of the immediately preceding financial year.
Consolidated Statement of Cash Flows

31/12/2016 31/12/2015
S$'000 S$'000
Operating activities:
Profit before income tax 4,777 4,663
Adjustments for:
Allowance for doubtful trade receivables 97 -
Allowance for doubtful trade receivables written back - (60)
Bad debts written off 2 -
Allowance for obsolete stock - 82
Property, plant and equipment written off 174 68
Interest expense 65 95
Interest income (11) (11)
Depreciation of property, plant and equipment 3,699 3,540
Gain on disposal of property, plant and equipment (131) (22)
Fair value gain on investment property - -
Operating cash flow before movements in working capital 8,672 8,355
Changes in working capital:
Inventories 466 634
Trade and other receivables 1,310 988
Trade and other payables (937) 167
Cash generated from operations 9,511 10,144
Interest received 11 11
Interest paid (65) (95)
Income taxes paid (726) (678)
Net cash from operating activities 8,731 9,382
Investing activities:
Proceeds from disposal of property, plant and equipment 183 26
Purchase of property, plant and equipment (1,938) (3,024)
Net cash used in investing activities (1,755) (2,998)
Financing activities:
Dividend paid (1,597) (1,491)
Pledge of fixed deposits (2) -
Repayment of term loans (937) (909)
Repayment of finance lease obligations (502) (461)
Net cash (used in)/from financing activities (3,038) (2,861)
Net increase in cash and cash equivalents 3,938 3,523
Cash and cash equivalents at beginning of financial year 9,215 5,915
Net effect of exchange rate changes on the cash and cash equivalents held in foreign (114) (223)
currencies
Cash and cash equivalents at end of financial year 13,039 9,215
Cash and cash equivalents at end of financial year of:

31/12/2016 31/12/2015
S$000 S$000
Cash and bank balances and fixed deposits 13,212 9,386
Sub-total 13,212 9,386
Fixed deposits pledged with bank (173) (171)
Total 13,039 9,215
1(d)(i) A statement (for the issuer and Group) showing either (i) all changes in equity or (ii)
changes in equity other than those arising from capitalisation issues and distributions to
shareholders, together with a comparative statement for the corresponding period of the
immediately preceding financial year.
Equity attributable to owners of the parent

Share Asset Currency Retained Total
capital revaluation translation earnings equity
reserve reserve
S$'000 S$000 S$000 S$'000 S$'000

Group
Balance at 1 January 2016 24,621 1,376 (2,043) 20,167 44,121
Profit for the year - - - 3,993 3,993
Exchange differences on translating foreign
subsidiaries - - (246) - (246)
Total comprehensive income for the year - - (246) 3,993 3,747
Dividend - - - (1,597) (1,597)
Balance at 31 December 2016 24,621 1,376 (2,289) 22,563 46,271
Balance at 1 January 2015 24,621 1,376 (888) 17,833 42,942

Profit for the year - - - 3,825 3,825
Exchange differences on translating foreign
subsidiaries - - (1,155) - (1,155)
Total comprehensive income for the year - - (1,155) 3,825 2,670
Dividend - - - (1,491) (1,491)
Balance at 31 December 2015 24,621 1,376 (2,043) 20,167 44,121
Company
Balance at 1 January 2016 24,621 1,376 - 16,580 42,577
Profit for the year, representing total - - - 2,099 2,099
comprehensive income for the year
Dividend - - - (1,597) (1,597)
Balance at 31 December 2016 24,621 1,376 - 17,082 43,079
Balance at 1 January 2015 24,621 1,376 - 15,099 41,096

Profit for the year, representing total - - - 2,972 2,972
comprehensive income for the year
Dividend - - - (1,491) (1,491)
Balance at 31 December 2015 24,621 1,376 - 16,580 42,577
1(d)(ii) Details of any changes in the company's share capital arising from rights issue, bonus
issue, share buy-backs, exercise of share options or warrants, conversion of other issues
of equity securities, issue of shares for cash or as consideration for acquisition or for any
other purpose since the end of the previous period reported on.
State also the number of shares that may be issued on conversion of all the outstanding
convertibles as at the end of the current financial period reported on and as at the end of
the corresponding period of the immediately preceding financial year.
There is no change in the Company's issued and paid-up capital nor any conversion and any
outstanding convertibles for the financial year ended 31 December 2016.
1(d)(iii) To show the total number of issued shares excluding treasury shares as at the end of the
current financial period and as at the end of the immediately preceding year.
The total number of issued shares as at the end of the current financial year was 53,244,997 (31
December 2015: 53,244,997).
1(d)(iv) A statement showing all sales, transfer, disposal, cancellation and/or use of treasury
shares as at the end of the current period reported on.
As at 31 December 2016, the Company did not hold any of its issued shares as treasury shares.
(As at 31 December 2015: Nil).
2. Whether the figures have been audited or reviewed and in accordance with which
auditing standard or practice.
The figures have not been audited nor reviewed by the auditors.
3. Where the figures have been audited or reviewed, the auditors report (including any
qualifications or emphasis of a matter).
Not applicable.
4. Whether the same accounting policies and methods of computation as in the issuers
most recently audited annual financial statements have been applied.
The Group has adopted the same accounting policies and methods of computation as stated in
the audited financial statement of the Group for the year ended 31 December 2015, except for
the adoption of the new and revised Financial Reporting Standards (FRSs) which become
effective on 1 January 2016. The adoption of these new and revised FRSs did not give rise to
significant changes in the financial statements.
5. If there are any changes in the accounting policies and methods of computation, including
any required by an accounting standard, what has changed, as well as the reasons for,
and the effect of, the change.
There are no changes in accounting policies and methods of computation used in the preparation
of the financial information in this announcement.
6. Earnings per ordinary share of the Group for the current financial period reported on and
the corresponding period of the immediately preceding financial year, after deducting any
provision for preference dividends.
Group
FY 2016 FY 2015
Net Profit attributable to owners of the parents (S$000) 3,993 3,825

Weighted average number of shares in issue (in 000s) 53,245 53,245
Earnings per share (cents)
(i) On basic 7.50 7.18
(ii) On a fully diluted basis 7.50 7.18
As there were no outstanding potentially dilutive ordinary shares, the diluted earnings per
ordinary share were accordingly the same as the earnings per ordinary share for the respective
financial year.
7. Net asset value (for the issuer and Group) per ordinary share based on issued share
capital of the issuer at the end of the:-
(a) current financial period reported on; and
(b) immediately preceding financial year.
Group Company
31/12/2016 31/12/2015 31/12/2016 31/12/2015
Net Asset (S$000) 46,271 44,121 43,079 42,577
Weighted average number of shares in issue 53,245 53,245 53,245 53,245
(in 000s)
Net asset value per Ordinary Share (cents) 86.90 82.86 80.90 79.96
based on issued share capital at the end of
financial year
8. A review of the performance of the Group, to the extent necessary for a reasonable
understanding of the Groups business. It must include a discussion of the following:-
(a) any significant factors that affected the turnover, costs, and earnings of the Group for
the current financial period reported on, including (where applicable) seasonal or
cyclical factors; and
(b) any material factors that affected the cash flow, working capital, assets or liabilities
of the Group during the current financial period reported on.
8.01 Revenue:
The Groups revenue for the financial year ended 31 December 2016 (FY2016) decreased
by 5.8% or $3.0 million to $48.8 million as compared to $51.8 million for the financial year
ended 31 December 2015 (FY2015).
The decrease in revenue was mainly due to the decrease from pallets and packaging
business by 6.5% or $2.75 million from $42.42 million to $39.67 million. The decrease in
this segment was due to the decreased demand from the local exporters during the current
economic situation.
Revenue from trading of timber related products decreased by 11.7% or $0.38 million from
$3.25 million to $2.87 million due to decrease in demand from local agent for the export
market.
Revenue from Technical Wood and related products decreased by 40.5% or $0.75 million
from $1.85 million to $1.10 million due to a reduction in supply. Additionally, Technical
Wood production was also disrupted due to a fire incident in FY2016 which resulted in a
decrease in output for the year. The Company has initiated insurance claims with the
insurer with regards to this fire incident.
The pallet rental and others increased by 19.3% or $0.83 million from $4.31 million to $5.14
million due to increase in customer base and demand in the logistics market in Singapore
and Malaysia.
8.02 Gross Profit and Gross Profit Margin:

Gross profit increased by 4.4% or $0.57 million from $12.96 million in FY2015 to $13.53
million in FY2016. The gross profit margin improved slightly to 27.7% in FY2016 as
compared to 25.0% in FY2015.
8.03 Other Income:

Other income increased by 9.5% or $0.37 million to $4.27 million in FY2016 as compared
to $3.90 million in FY2015. This is mainly due to an increase in government grants
received. Please refer to page 2, note (i).
8.04 Distribution Expenses:

Distribution expenses decreased by 5.4% or $0.12 million to $2.12 million in FY2016 from
$2.24m in FY2015, in line with sales volume decreases.
8.05 Administrative Expenses:

Administrative expenses increased by 5.2% or $0.51 million to $10.30 million in FY2016
from $9.79 million in FY2015, mainly due to increases in marketing and promotional
expenses, depreciation of property, plant and equipment and insurance costs. Please refer
to page 2, note (ii).
8.06 Other Expenses:

Other expenses increased by 671.4% or $0.47 million to $0.54 million in FY2016 compared
to $0.07 million in FY2015 due mainly to property, plant and equipment written off and
allowance for doubtful debts. Please refer to page 2, note (iii).
8.07 Finance Costs:

Finance costs decreased by 22.2% or $0.02 million to $0.07 million in FY2016 from $0.09
million in FY2015 due to lower term loan balance as a result of monthly loan repayments.
8.08 Profit before Income Tax:

The Groups net profit before income tax increased by 2.6% or $0.12 million to $4.78million
in FY2016 from $4.66 million in FY2015. This was mainly due to the increase in gross
margin of the Group.
8.09 Non-Current Assets:

The non-current assets decreased by 8.0% or $2.12 million to $24.50 million as at 31
December 2016 from $26.62 million as at 31 December 2015 mainly due to deprecation of
plant and machinery.
8.10 Current Assets:

The current assets increased by 7.0% or $1.93 million to $29.48 million in FY2016 from
$27.55 million in FY2015 were mainly attributable to:
(1) an increase in cash and bank balances to $13.04 million in FY2016 from $9.22 million
in FY2015 due to faster collection of receivables; offset by
(2) a decrease in inventories to $6.98 million in FY2016 from $7.45 million in FY2015;
(3) a decrease in trade receivables to $8.55 million in FY2016 from $9.81 million in
FY2015 due to lower total revenue and faster collection of receivables; and
(4) a decrease in other receivables to $0.73 million in FY2016 from $0.91 million in
FY2015.
8.11 Current Liabilities:

The decrease in current liabilities by 12.7% or $0.93 million to $6.40 million in FY2016 from
$7.33 million in FY2015 was mainly due to:
(1) a decrease in trade payables and accruals to $3.63 million in FY2016 from $4.46
million in FY2015 due to the decrease in purchases for raw materials;
(2) a decrease in other payables to $0.68 million in FY2016 from $0.79 million in
FY2015;
(3) a decrease in finance lease payables to $0.29 million in FY2016 from $0.50 million
in FY2015 due to finance lease repayments in the year;
(4) a decrease in term loan to $0.91 million in FY2016 from $0.98 million in FY2015 due
to term loan repayments in the year; and
(5) an increase in the provision of income tax to $0.89 million in FY2016 compared to
$0.59 million in FY2015.
8.12 Non-Current Liabilities:

The decrease in non-current liabilities by 51.8% or $1.41 million to $1.31 million in FY2016
from $2.72 million in FY2015 was due to repayment of secured term loans and finance
leases in the year.
8.13 Working Capital (Net Current Assets):

The Groups working capital increased by 14.1% or $2.86 million to $23.08 million in FY2016
from $20.22 million in FY2015. This was mainly due to the increase in cash and bank
balances.
8.14 Consolidated Statement of Cash Flows:

The Groups net cash generated from operating activities was an inflow of $8.73 million in
FY2016 as compared to the inflow of $9.38 million in FY2015. The increase in inflow was
mainly due to cash generated from operating activities and working capital.
Net cash used in investing activities of $1.76 million was mainly due to the purchases of
plant and equipment during the financial year.
Net cash used in financing activities of $3.04 million was mainly used for the payment of
dividend and repayment of term loans and finance leases.
9. Where a forecast, or a prospect statement, has been previously disclosed to shareholders,

any variance between it and the actual results.
No forecast or prospect statement has been disclosed to shareholders previously.
10. A commentary at the date of the announcement of the significant trends and competitive
conditions of the industry in which the Group operates and any known factors or events
that may affect the Group in the next reporting period and the next 12 months.
In view of the current uncertain economic conditions, the Group expects market conditions to
remain challenging. In view of this, the Group will continue to keep up its marketing efforts as well
as cost management.
The Company has received notification from its lessor informing that as part of the lessors plans to
upgrade the infrastructure for the Sungei Kadut estate, the Companys property located at 44
Sungei Kadut Street 1 will be affected and required to be relocated by 2020, ahead of the lease
expiry in 2025. The Company is now in the process of discussion with the lessor on relocation
plans moving forward.
11. Dividend
(a) Current Financial Period Reported On
Any dividend declared for the current financial year reported on? Yes
Name of Dividend : First and final dividend

Dividend : Cash
Dividend amount per share: 5.0 cents per ordinary share (one tier exempt dividend)
Tax Rate : Tax exempt
(b) Corresponding Period of the Immediately Preceding Financial Year
Any dividend declared for the corresponding year of the immediately preceding financial
year? Yes
Name of Dividend : First and final dividend

Dividend : Cash
Dividend amount per share: 3.0 cents per ordinary share (one tier exempt dividend)
Tax Rate : Tax exempt
(c) Date payable

Subject to shareholders approval at the Annual General Meeting to be held on 28 April 2017,
the dividend will be paid on 26 May 2017.
(d) Books closure date
Registrable Transfers received by the Companys Registrar, B.A.C.S Private Limited, at 8

Robinson Road, #03-00, ASO Building, Singapore 048544, up to 5.00 p.m. on 17 May 2017
will be registered before entitlements to the proposed dividend are determined. The Register
of Transfer and the Register of Members of the Company will be closed on 18 May 2017 for
the preparation of dividend warrants.
12. If no dividend has been declared/recommended, a statement to that effect.
Not applicable.
13. Segmented revenue and results for business or geographical segments (of the Group) in the
form presented in the issuers most recently audited annual financial statements, with
comparative information for the immediately preceding year.
By Business Segment
Pallet / Timber Related Technical Pallet Rental and Elimination Consolidated
Packaging Products Wood Others
Products
2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015
S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000
Sales to 39,671 42,421 2,867 3,247 1,099 1,851 5,144 4,313 - - 48,781 51,832
external
customers
Inter-segment 14,034 14,108 7,021 1,085 1,052 995 - 9 (22,107) (16,197) - -
sales
Total revenue 53,705 56,529 9,888 4,332 2,151 2,846 5,144 4,322 (22,107) (16,197) 48,781 51,832
Segment 3,141 3,951 360 310 33 491 1,535 954 (227) (948) 4,842 4,758
results
Finance cost - - - - - - - - - - (65) (95)
Profit before - - - - - - - - - - 4,777 4,663
income tax
Income tax - - - - - - - - - - (784) (838)
expenses
Profit for the - - - - - - - - - - 3,993 3,825
financial year
Segment assets 23,622 23,455 2,404 1,726 6,768 8,764 29,887 27,887 (8,735) (7,716) 53,946 54,116
Unallocated - - - - - - - - - - 37 53
assets
Total assets 53,983 54,170
Segment 10,078 10,087 - - 1,061 1,781 983 730 (7,332) (6,370) 4,790 6,228
liabilities
Unallocated - - - - - - - - - - 2,922 3,820
liabilities
Total Liabilities 7,712 10,048
Other segment
information
Capital 606 825 92 - 7 494 1,261 1,702 (28) (16) 1,938 3,005
expenditures
Deprecation 1,193 1,059 - - 825 881 1,704 1,644 (23) (44) 3,699 3,540
Gain on - - - - - - (131) (22) - - (131) (22)
disposal of
property, plant
and equipment
Net reversal of - 19 - - - 59 - 4 - - - 82
allowance for
obsolete stock
By Geographical Location
Singapore Malaysia and Others Consolidation
2016 2015 2016 2015 2016 2015

S$'000 S$'000 S$'000 S$'000 S$'000 S$'000
Sales to external customers 46,776 49,971 2,005 1,862 48,781 51,832
Location of non-current assets

Non-current assets 19,607 21,425 4,898 5,196 24,505 26,621
14. In the review of performance, the factors leading to any material changes in contributions to
turnover and earnings by the business or geographical segments.
14.1 By Business Segments
(a) Please refer to para 8.01 for turnover contributions.
(b) The segment results showed that the pallet and packaging business decreased by 20.5%
or $0.81 million from $3.95 million in FY2015 to $3.14 million in FY2016 due to decreased
turnover in this segment. Timber trading results increased by 16.1% or $0.05 million from
$0.31 million to $0.36 million due to better margins. Results from Technical Wood
products and others decreased by 93.9% or $0.46 million from $0.49 million to $0.03 million
mainly due to disruption from a fire incident in 2016. This is offset by an increase in the
results for pallet rental business by 62.1% or $0.59 million from $0.95 million to $1.54
million due to higher demand in the pallet rental business.
14.2 By Geographical Locations
The sales for Singapore location decreased by 6.4% or $3.19 million from $49.97 million in
FY2015 to $46.78 million in FY2016 mainly due to slower market demand. For Malaysia
and other locations, the sales increased 8.1% or $0.15 million from $1.86 million for
FY2015 to $2.01 million for FY2016 as these locations are increasingly being used to
support growth in Holding Companys sales.
15. A breakdown of sales.
Group
FY2016 FY2015 Change
S$000 S$000 (%)
Sales reported for the first half year 26,198 25,749 1.7%
Operating profit after tax 2,743 2,133 28.6%
Sales reported for the second half year 22,583 26,083 (13.4%)
Operating profit after tax 1,250 1,692 (26.1%)
16. A breakdown of the total annual dividend (in dollar value) for the issuers latest full year
and its previous full year.
Latest Full Year S$'000 Previous Full Year S$'000

Ordinary First and Final Dividend 2,662 1,597
Preference - -
Total: 2,662 1,597
17. Interested Person Transactions.
Name of Aggregate value of all Aggregate value of all interested person

Interested interested person transactions transactions conducted under shareholders
Person during the financial year under mandate pursuant to Rule 920 (excluding
review (excluding transactions transactions less than $100,000)
less than $100,000 and
transactions conducted under
shareholders mandate
pursuant to Rule 920)
Hwee Wong HWT is providing transport 0

Transport services to the Company.
Trading Pte Ltd $995,005
(HWT)
LT is providing transport 0
Leayong
services to subsidiaries of the
Trading
Company
(LT)
$170,454
GLT is providing transport

Gold Leayong 0
services to subsidiaries of the
Trading
Company
(GLT)
$74,639
Total $1,240,098 0
For interested person transactions above, no shareholders mandate pursuant to Rule 920 has
been obtained. There were no transactions with interested person as defined in the SGXs Listing
Manual for the financial year ended 31 December 2016 that exceeded the stipulated threshold.
18. Undertakings from directors and executive officers
In view of the latest guideline from the Exchange in relation to Rule 720 (1) of the SGX-ST Listing
Manual, the Company has procured signed undertakings from all its directors and executive officers
based on the latest revised form of Appendix 7.7 of the SGX-ST Listing Manual, which will replace
and supersede the undertakings previously signed by the directors and executive officers.
19. Disclosure of person occupying a managerial position in the issuer or any of its principal
subsidiaries who is a relative of a director or chief executive officer or substantial
shareholder of the issuer pursuant to Rule 704(13) in the format below. If there are no such
persons, the issuer must make an appropriate negative statement.
Pursuant to Rule 704(13) of the Listing Manual, we append below the persons occupying
managerial positions who are related to a director, chief executive officer or substantial
shareholder.
Name Age Family Relationship Current position and Details of

with any director duties, and the year changes
and/or Substantial position was first held in duties
Shareholders and
position
held, if
any,
during the
year
Appointed as Plant
Manager - Wood
Recycling on 1st January
Brother of Neo Koon
2005.
Boo (ex-Managing
Neo Kah Seng 53 No Change
Director, Substantial
Overseeing the operation
Shareholder)
and maintenance of the
Wood Waste Recycling
Plant.
Appointed as Production
Manager -
Nephew of Neo Koon Case and Packaging in
Boo (ex-Managing September 2005.
Kok Chee Chuen 61 No Change
Shareholder) Responsible for the
operation of case and
packaging department.
Appointed as Alternate
Director to Yap Mui Kee
on 20th July 1998.
Corporate Secretary of
LHT Holdings Limited.
Secretary to Board of
Directors and Board
Committees and Personal
Assistant to Managing
Director on 1st July 2000.
Sister of Yap Mui Kee Appointed as Corporate

(Managing Director, Secretary of LHT Ecotech
Sally Yap Mei Yen 53 No Change
Substantial Resources Pte Ltd
Shareholder) (subsidiary) on 9th July
2008.
Appointed as Supervisor
of LHT Ecotech
Resources (Tianjin) Co.
Ltd on 11th December
2012.
Appointed as Corporate
Secretary of Kim Hiap
Lee Co. (Pte) Ltd and
LHT Marketing Pte Ltd
(subsidiaries) on 23rd May
2014.
Appointed as Senior
Sales Manager on 1st July
2007.
Sister of Yap Mui Kee
(Managing Director,
Yap Mei Lan 48 Responsible for No Change
Substantial
Shareholder) supervision of the sales
department as well as
attending to sales
inquiries.
Appointed as Sales &

Admin Assistant
Manager of Siri Belukar
Packaging Sdn Bhd
Nephew of Neo Koon
(subsidiary company) in
Boo (ex-Managing
Tay Kee Kuang 44 1994. No Change
Shareholder)
Appointed as Director of
Lian Hup Packaging
Industries Sdn Bhd
(subsidiary company) on
15th January 1997.
Appointed as Director of
Siri Belukar Packaging
Sdn Bhd (subsidiary
company) on 1st January
2016.
Discharge the duties of a

director in the subsidiary
company and
overseeing the whole
company.
Appointed as ECR-RFID
Project Manager of Kim
Hiap Lee Company (Pte)
Spouse of Yap Mui Limited (subsidiary
Kee (Managing company) on 1st May
Yeo Wen Torng 56 No Change
Director, Substantial 2008.
Shareholder)
Overseeing the
operational activities of
ECR and RFID projects.
BY ORDER OF THE BOARD
Yap Mui Kee

Managing Director
24 February 2017

LHT Holdings LTD Full Year 31dec2016 Results Announcement FINAL

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LHT Holdings LTD Full Year 31dec2016 Results Announcement FINAL

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LHT HOLDINGS LIMITED (Company Registration No198003094E)

Consolidated Income Statement

Consolidated Statement of Comprehensive Income

Group Group Change

Total comprehensive income attributable to:

Notes to the consolidated income statement

(ii) Administrative expenses

(iii) Other expenses

(iv) Finance costs

(vi) Income tax expenses

There was no investment income during the year.

Net Current Assets Para 8.13 23,076 20,223 16,348 13,929

Net Assets 46,271 44,121 43,079 42,577

1(b)(ii) Aggregate amount of Groups borrowings and debt securities.

Amount repayable in one year or less, or on demand

Amount repayable after one year

Details of any collateral

Consolidated Statement of Cash Flows

Cash and cash equivalents at end of financial year of:

Equity attributable to owners of the parent

S$'000 S$000 S$000 S$'000 S$'000

Balance at 1 January 2015 24,621 1,376 (888) 17,833 42,942

Balance at 31 December 2016 24,621 1,376 - 17,082 43,079

Balance at 1 January 2015 24,621 1,376 - 15,099 41,096

Net Profit attributable to owners of the parents (S$000) 3,993 3,825

8.02 Gross Profit and Gross Profit Margin:

8.03 Other Income:

8.04 Distribution Expenses:

8.05 Administrative Expenses:

8.06 Other Expenses:

8.07 Finance Costs:

8.08 Profit before Income Tax:

8.09 Non-Current Assets:

8.10 Current Assets:

8.11 Current Liabilities:

8.12 Non-Current Liabilities:

8.13 Working Capital (Net Current Assets):

8.14 Consolidated Statement of Cash Flows:

9. Where a forecast, or a prospect statement, has been previously disclosed to shareholders,

No forecast or prospect statement has been disclosed to shareholders previously.

Name of Dividend : First and final dividend

(b) Corresponding Period of the Immediately Preceding Financial Year

Name of Dividend : First and final dividend

(c) Date payable

(d) Books closure date

Registrable Transfers received by the Companys Registrar, B.A.C.S Private Limited, at 8

12. If no dividend has been declared/recommended, a statement to that effect.

2016 2015 2016 2015 2016 2015

Location of non-current assets

14.1 By Business Segments

(a) Please refer to para 8.01 for turnover contributions.

14.2 By Geographical Locations

15. A breakdown of sales.

Latest Full Year S$'000 Previous Full Year S$'000

17. Interested Person Transactions.

Name of Aggregate value of all Aggregate value of all interested person

Hwee Wong HWT is providing transport 0

GLT is providing transport

18. Undertakings from directors and executive officers

Name Age Family Relationship Current position and Details of

Sister of Yap Mui Kee Appointed as Corporate

Appointed as Sales &

Discharge the duties of a